We lease hotel properties, land and equipment under operating and financing leases. We are subject to ground leases on 16 of our consolidated properties, 3 of which were acquired as part of the Merger. Our leases expire, including options under lessor control, at various dates through 2083, with varying renewal options, and the majority expire before 2034.

Our operating leases may require minimum rent payments, variable rent payments based on a percentage of revenue or income or rent payments equal to the greater of a minimum rent or variable rent. In addition, we may be required to pay some, or all, of the capital costs for property and equipment in the hotel during the term of the lease.

The maturities of our non-cancelable operating lease liabilities, due in each of the next five years and thereafter as of September 30, 2019, were:

	Operating Leases
Year	(in millions)
2019	$	8
2020		32
2021		32
2022		32
2023		26
Thereafter		414
Total minimum rent payments	$	544
Less: imputed interest		260
Total operating lease liabilities	$	284

As of September 30, 2019 the weighted average remaining operating lease term was 25.7 years and the weighted average discount rate used to determine the operating lease liabilities was 5.4%.

The components of rent expense, which are primarily included in other property-level expenses in our condensed consolidated statements of comprehensive income, supplemental cash flow and non-cash information for all operating leases were:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2019		2019
	(in millions)
Operating lease expense	$	7	$	21
Variable lease expense		4		11
Operating cash flows for operating leases		7		20
Right-of-use assets obtained in exchange for lease obligations⁽¹⁾		65		278